Monthly economic brief: January 2022

Footnotes

1 https://www.gov.scot/collections/economy-statistics/#gdpmonthlyestimates

2 IHS Markit, RBS Purchasing Managers Index, January 2022. RBS | Private sector growth moderates further as Omicron concerns strike (rbsbusinesshub.com)

3 IHS Markit/CIPS, Flash UK Composite PMI 0140ace85cfc4f48a4748080468dc73a (markiteconomics.com)

4 BICS weighted Scotland estimates: data to wave 47 - gov.scot (www.gov.scot)

5 BICS weighted Scotland estimates: data to wave 47 - gov.scot (www.gov.scot)

6 BICS weighted Scotland estimates: data to wave 47 - gov.scot (www.gov.scot)

7 IHS Markit, RBS Purchasing Managers Index, January 2022. RBS | Private sector growth moderates further as Omicron concerns strike (rbsbusinesshub.com)

8 UK regional trade in goods statistics: UK regional trade in goods statistics: third quarter 2021 - GOV.UK (www.gov.uk)

9 BICS weighted Scotland estimates: data to wave 47 - gov.scot (www.gov.scot)

10 BICS weighted Scotland estimates: data to wave 47 - gov.scot (www.gov.scot)

11 Labour market monthly briefing: January 2022 - gov.scot (www.gov.scot)

12 Earnings and employment from Pay As You Earn Real Time Information, UK - Office for National Statistics (ons.gov.uk)

13 Labour market monthly briefing: January 2022 - gov.scot (www.gov.scot)

14 IHS Markit: RBS Report on Jobs for December: 265c1e92f8564af4b95351a37edb7f5b (markiteconomics.com)

15 Online job advert estimates - Office for National Statistics (ons.gov.uk)

16 BICS weighted Scotland estimates: data to wave 47 - gov.scot (www.gov.scot)

17 Earnings and employment from Pay As You Earn Real Time Information, seasonally adjusted - Office for National Statistics (ons.gov.uk)

18 The rates of earnings growth during the pandemic need to be interpreted with caution as base effects, compositional factors and the furlough scheme have all influenced the data.

19 The latest consumer sentiment survey was undertaken between 24 November and 20 December 2021.

20 Economy statistics - gov.scot (www.gov.scot)

21 Retail sales, Great Britain - Office for National Statistics (ons.gov.uk)

22 Money and Credit - November 2021 | Bank of England

23 Consumer price inflation, UK - Office for National Statistics

24 Producer price inflation, UK - Office for National Statistics (ons.gov.uk)

25 Bank Rate increased to 0.25% - December 2021 | Bank of England

26 FAI Economic Commentary, 2021 Q4 | FAI (fraserofallander.org)

27 Scotland’s Economic and Fiscal Forecasts – December 2021 | Scottish Fiscal Commission

28 Forecasts for the UK economy: January 2022 - GOV.UK (www.gov.uk)

29 World Economic Outlook Update, January 2022: Rising Caseloads, A Disrupted Recovery, and Higher Inflation (imf.org)